1675 West Yale Avenue
- 1675 West Yale Avenue, Englewood, CO 80110
- Property Type:
- Multi Tenant
- Cap Rate:
- 7.27% cap
- Square Feet:
- 13,483 sqft
- Lot Size:
- 0.52 acres
- Year Built:
• This Stand Alone Property Features 13,483 Square Feet of Flex Space Situated on .52 Acres with a Gated Lot
• Masonry Construction with 17’ Clear Height, Four Grade Level Doors, and 10,483 Square Feet of Warehouse Space
• 100% Leased at Sale with 3 Tenants and 94% of the Space is on NNN Leases
• No New Construction in the Area and Market Vacancy of 1.8% Creates a Limited Supply for Businesses in Need of Flex Space (CoStar)
• Proximate to Santa Fe Drive for Easy Access to I-25
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1675 West Yale Avenue in Englewood, Colorado. The subject property consists of approximately 13,483 square feet of space and is situated on 0.52 acres of land. The asset features masonry construction with 17’ clear height, four grade-level doors, a gated lot, and 10,483 square feet of warehouse space. At sale, the subject property will be 100 percent leased with three tenants. There are new, three-year, NNN leases for Units A & B and 94 percent of the space is triple-net leased. With no new construction in the area and market vacancy of 1.8 percent, there is limited supply for businesses in need of flex space in Englewood (CoStar). The subject property is proximate to Santa Fe Drive for easy access to Interstate 25.
The City of Englewood is centrally located within the Denver Metropolitan area. Just south of Denver, Englewood is ideally situated for citizens, business people, and visitors. Englewood offers a small-town atmosphere of community with all the benefits of a larger metropolitan area nearby. Englewood is home to 1,602 businesses within industrial, manufacturing, and service sectors. Englewood has a full-time employment base of 24,800 jobs with 8,800 jobs in the industrial and commercial zoned land area. (englewoodco.gov)
A confluence of events turned Denver into one of the most active industrial markets in the country in the past decade. Robust demand in this regional market with strong economic growth this cycle is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region. Furthermore, the emergence of the marijuana industry’s presence with the passing of Amendment 64 in November 2012 created a new demand driver this cycle, with new and relatively unsophisticated tenants operating with entirely different profit margins. Vacancies were below the long-term average even after 2019 shattered records with more than six million square feet of deliveries. Entering 2020, around 5.5 million square feet was under construction. Industrial rents are more than 60 percent above the peak of the previous cycle, one of the best performances in the nation.
Investors remained enthusiastic about Denver’s industrial fundamentals by setting a record high for sales volume for the second straight year. More than $1.7 billion worth of assets traded in 2019, more than $200 million more than the previous year. Pricing continues to climb upward, albeit at a more modest pace than in past years, according to CoStar’s Pricing Trends (CoStar).